Nutmeg and Seedrs have partnered with German challenger bank Fidor, and will appear on its Finance Bay marketplace of fintech offerings.
Fidor says that the marketplace aims to offer “every financial service a customer could possibly want”.
Katharina Rausch, head of FinanceBay, said that the partnership would allow Fidor to offer “exciting investment opportunities to its UK-based customers.
She said: “Fidor has long welcomed affluent and financially curious customers to our digital bank and based on their investment appetites we have build an exciting suite of investment products made accessible to customers via a handful of carefully curated fintech partners.
The bank, which launched in the UK in 2015, has 100,000 customers spread over Germany and the UK.
It plans to expand into Europe in the coming months.
Nutmeg said that it was delighted to partner with Fidor, a business that a spokesman said had a similar culture.
“This is definitely an exciting time for the fintech industry and we are thrilled to be part of a movement that is very much shaping the future of money management.
"We are passionate about making wealth management available to everyone and initiative’s like Fidor’s fintech marketplace, make great strides towards this goal,” said Martin Stead, Nutmeg’s chief executive.
Jeff Lynn, chief executive and co-founder of Seedrs, which allows customers to invest in early-stage businesses, said that the partnership: “provides us a great opportunity to give a tech savvy investor base access to some of the most exciting early stage investment opportunities in Europe.”
Nutmeg posted a £9m pre-tax loss last year.
Financial adviser Steve Carlson, from Carlson Wealth Management in Cardiff, said that he felt their products were expensive and there was better value elsewhere for investors.
Mr Carlson said: “Vanguard knocks spots off it in terms of cost."
The service will have a minimum lump sum investment of £500 or a minimum monthly contribution of £100.
There will be no account fee above the first £250,000 invested, meaning this fee is effectively capped at £375 a year.
Mr Carlson added that investing in early stage companies such as the type of investments offered by Seedrs was “good if you are doing it with small amounts of money, but you would want to take advice if you were investing larger amounts.”
Financial adviser Patrick Connolly, at Chase de Vere, said that while he welcomed the technological advances companies had made, using digital services was a “high risk strategy” where somebody has complicated requirements or is considering more specialist products or investments.
He said: “Digital services can be hugely beneficial and cost effective for those who have fairly basic financial planning needs."
rosie.murray-west@ft.com
